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=== 2002โ2003 === On 12 March 2002, LookSmart announced that they would be acquiring [[WiseNut]] for about $9.25 million in stock.<ref>{{Cite web|url=https://www.dmnews.com/marketing-channels/news/13085879/looksmart-to-buy-wisenut-search-engine-in-925-million-deal|title=LookSmart to Buy WiseNut Search Engine in $9.25 Million Deal|last=Tomasula|first=Dean|date=13 March 2002|website=DMNews.com|language=en|access-date=3 June 2019}}</ref> LookSmart completed their acquisition of WiseNut in April.<ref>{{Cite web|url=https://www.cnet.com/news/looksmart-completes-purchase-of-wisenut/|title=LookSmart completes purchase of WiseNut|date=8 April 2002|website=CNET|language=en|access-date=25 March 2019}}</ref> In June 2002, Thornley resigned as CEO but stayed on as chairman<ref name=":1">{{cite news|url=https://www.theage.com.au/articles/2002/06/29/1023864671788.html|title=Thornley tips LookSmart profits after boardroom showdown|last1=Sinclair|first1=Jenny|date=2 July 2002|work=[[The Age]]|last2=Zetter|first2=Kim}}</ref> and three of the seven members of the [[board of directors]] resigned in response, including Robert Ryan, Myriann Byerwalter and James Tananbaum.<ref name=":1" /><ref>{{Cite web|url=https://www.cnet.com/news/looksmart-replaces-chief-with-coo/|title=LookSmart replaces chief with COO|last=Olsen|first=Stefanie|date=2 July 2002|website=CNET|language=en|access-date=25 March 2019}}</ref> In July 2002, BT LookSmart acquired UK Plus from Associated New Media (ANM) for an undisclosed amount.<ref>{{Cite web|url=https://www.thefreelibrary.com/BT+LookSmart+buys+UK+Plus+search+engine.-a089634496|title=BT LookSmart buys UK Plus search engine.|date=2002|website=The Free Library from [[Farlex]]|access-date=29 January 2019}}</ref><ref>{{Cite web|url=https://www.theregister.co.uk/2002/12/04/bt_looksmart_has_ceased/|title=BT LookSmart has ceased to be|last=Cullen|first=Drew|date=4 December 2002|website=The Register|language=en|access-date=28 April 2019}}</ref> On 1 October 2002, Jason Kellerman became the CEO of LookSmart, having previously served as [[Chief operating officer|COO]] of the company.<ref>{{Cite web|url=https://www.bizjournals.com/sanjose/stories/2002/09/30/story6.html|title=LookSmart aims to outsmart Google with its new offering|last=Mullins|first=Robert|date=29 September 2002|website=[[American City Business Journals]]|archive-url=https://web.archive.org/web/20031230070607/https://www.bizjournals.com/sanjose/stories/2002/09/30/story6.html|archive-date=30 December 2003|access-date=28 January 2019}}</ref> In early-December 2002, LookSmart paid US$3.5 million in cash and 1 million in LookSmart shares to purchase BT LookSmart from BT Group and subsequently shut down the joint venture.<ref name=":9">{{Cite web|url=https://www.smh.com.au/technology/looksmart-buys-out-and-shuts-down-joint-venture-with-bt-20021205-gdfx4x.html|title=LookSmart buys out and shuts down joint venture with BT|date=5 December 2002|website=The Sydney Morning Herald|language=en|access-date=28 April 2019}}</ref> LookSmart also returned US$1.5 million in restricted cash that was to be used for the funding of the joint venture.<ref name=":9" /> In January 2003, LookSmart acquired Intellectual property rights from [[Grub (search engine)|Grub]] for $1.3 million in cash and stock.<ref>[https://www.sec.gov/Archives/edgar/data/1077866/000119312504214657/dex993.htm LookSmart SEC filing], 2003</ref> On 6 March 2003, LookSmart announced that they had renewed an agreement with [[Time Warner Cable|Time Warner Cable's]] Road Runner division to continue providing directory listings for Road Runner subscribers.<ref>{{Cite web|url=https://www.cnet.com/news/looksmart-renews-road-runner-deal/|title=LookSmart renews Road Runner deal|last=Olsen|first=Stefanie|date=6 March 2003|website=CNET|language=en|access-date=25 March 2019}}</ref> On 9 July 2003, LookSmart announced that they had reached an agreement to provide listing services in the United States for web portal [[Terra Lycos]].<ref>{{Cite web|url=https://www.cnet.com/news/looksmart-licenses-search-to-lycos/|title=LookSmart licenses search to Lycos|last=Olsen|first=Stefanie|date=9 July 2003|website=CNET|language=en|access-date=25 March 2019}}</ref> In August 2003, LookSmart stated in a financial report that Microsoft, which accounted for 64% of the company's listing revenues in the last 6 months and 70% of the company's overall revenue, started testing its own search technology without LookSmart's listings on some of its websites in the [[United Kingdom]] and LookSmart's stock dropped more than 20% on 15 August and continued dropping on 18 August.<ref name=":5" /><ref>{{cite news | url=https://www.zdnet.com/article/looksmarts-microsoft-deal-looks-rocky/ | title=LookSmart's Microsoft deal looks rocky | first=Matt | last=Hines | work=[[ZDNet]] | date=18 August 2003}}</ref> Also in August, William Lonergan became the new [[CFO]] of LookSmart.<ref>{{Cite web|url=https://www.bizjournals.com/sanjose/stories/2003/08/25/daily5.html|title=LookSmart names new CFO|date=25 August 2003|website=[[American City Business Journals]]|archive-url=https://web.archive.org/web/20031026093214/https://www.bizjournals.com/sanjose/stories/2003/08/25/daily5.html|archive-date=26 October 2003|access-date=28 January 2019}}</ref> In October 2003, LookSmart reintroduced its bid-for-placement ads in order to compete with [[Google]] and [[Yahoo!]], which were previously offered through LookSmart's UK division.<ref>{{Cite web|url=https://www.cnet.com/news/looksmart-reintroduces-bid-for-placement-ads/|title=LookSmart reintroduces bid-for-placement ads|last=Olsen|first=Stefanie|date=2 October 2003|website=CNET|language=en|access-date=25 March 2019}}</ref> On 6 October 2003, Microsoft announced that it would not renew its agreement with LookSmart and the company's stock price plunged 52.3% in a day and its stock fell to $1.44 per share.<ref name=":5">{{cite news | url=https://www.forbes.com/free_forbes/2005/1031/182.html | archive-url=https://web.archive.org/web/20051029074606/http://www.forbes.com/free_forbes/2005/1031/182.html | url-status=dead | archive-date=29 October 2005 | title=Your Big Best FriendโOr Not | first=Kurt | last=Badenhausen | work=[[Forbes]] | date=31 October 2005}}</ref><ref name=":7">{{Cite web|url=https://www.shareholder.com/looksmart/releaseDetail.cfm?ReleaseID=119375|title=MSN Agreement With LookSmart to End January 15, 2004|date=6 October 2003|website=www.shareholder.com|archive-url=https://web.archive.org/web/20031018023247/https://www.shareholder.com/looksmart/releaseDetail.cfm?ReleaseID=119375|archive-date=18 October 2003|access-date=25 March 2019}}</ref><ref>{{cite news | url=https://www.bizjournals.com/sacramento/stories/2003/10/06/daily17.html | title=Deal with Microsoft dies and LookSmart's stock plummets | work=[[American City Business Journals]] | date=7 October 2003}}</ref> In response to this, LookSmart fired half of its employees in December 2003.<ref>{{Cite web|url=https://www.cnet.com/news/looksmart-to-lay-off-half-of-staff/|title=LookSmart to lay off half of staff|last=Hu|first=Jim|date=12 December 2003|website=CNET|language=en|access-date=25 March 2019}}</ref> In September 2003, the company settled a lawsuit filed in May 2002 by Legal Staffing Partners after the company converted thousands of websites that originally had paid a onetime submission fee into a cost-per-click payment model.<ref name="enterprise" /><ref>{{Cite web|url=https://www.cnet.com/news/looksmart-fees-backfire-into-lawsuit/|title=LookSmart fees backfire into lawsuit|last=Olsen|first=Stefanie|website=CNET|language=en|access-date=25 March 2019}}</ref> In 2003, LookSmart had a net income of $5.8 million and made $140.9 million in revenue.<ref>{{Cite web|url=https://www.bizjournals.com/sanjose/stories/2004/02/02/daily59.html|title=LookSmart sees higher revenue, lower profit|date=4 February 2004|website=[[American City Business Journals]]|archive-url=https://web.archive.org/web/20040224220300/https://www.bizjournals.com/sanjose/stories/2004/02/02/daily59.html|archive-date=24 February 2004|access-date=28 January 2019}}</ref>
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